What the Tech? ATM Skimmers

Skimming credit and debit cards are a huge problem for consumers and it’s getting worse.

Wednesday, January 4th 2017, 11:41 am EST by Jamey Tucker

Updated:

Wednesday, January 4th 2017, 5:53 pm EST

Skimming credit and debit cards are a huge problem for consumers and it’s getting worse. A report from Verizon shows some 94% of all security breaches originate at card swipe devices.

Skimming devices are widely used by criminals for two reasons: the probability of successful thefts and the ease in which skimmers are placed on card swipe devices.

The skimmers are often placed on ATM terminals and swipe payment devices in a matter of 2-3 seconds. These slip on top of the cash machines and are barely noticeable by consumers. Some add just a little bulk to the terminals but are otherwise identical to the card swipe machines.

Customers will be able to download an app and use their phone and touchpad to remove cash from their accounts without using a card or password. The transaction is thought to be much safer than traditional ATMs.